Powered by MOMENTUM MEDIA

Capital cities enjoy property value growth

By webmaster 01 September 2011 | 1 minute read

Sydney, Canberra and Darwin have all managed to buck the trend in home values and actually produced small capital gains.

According to new research by RP Data, Canberra was the standout performer last month, recording 1.9 per cent growth in property values.

Darwin wasn’t far behind with 0.6 per cent growth and Sydney managed to improve marginally with 0.1 per cent growth.

Melbourne on the other hand, led the downwards spiral, with property values slipping 1.4 per cent in the capital city last month.

But, RP Data’s research director Tim Lawless said the fall in Melbourne house prices shouldn’t alarm potential investors.

Advertisement
Advertisement

“After rising by a stunning 29 per cent over 2009 and 2010, Melbourne values had now corrected by 5.3 per cent in 2011,” he said.

Capital cities enjoy property value growth
default
spi logo

Get the latest news & updates

Join a community of over 100,000 property investors.

Check this box to receive podcast updates

From the web

Recommended by Spike Native Network

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.